Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0198%/8h= +21.7% APRpaid last 24h +0.058%

Price spread now: tradeXYZ against OKX+0.137%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$870.871% of the position

Long on OKX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.278%+$28 on $10k

Price spread, last 4 days (all we have)−0.180%−$18 · spread now +0.137%, 7d avg −0.026%

Together, before fees+0.098%+ Points / potential airdroptradeXYZ: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and tradeXYZ is 0.162% dearer against OKX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NOW-USDT-SWAP	138.89	0	get 0.0000% / 8h	1h 24m	$496K	$231K	20x
Short	tradeXYZ xyz:NOW	139.08	0.0198	get 0.0025% / 1h	24m 00s	$2.1M	$228K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against OKX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OKXbpFee tradeXYZbpOrdersPrice spread, now +0.137%Rate

Funding earned: $41.53
Price spread: +0.137% → −0.026%: $16.24
Slippage, 4 orders: −$59.11
Fee OKX: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$29.34
Costs to cover: 0.871%
Break-even: 11.9 days

Slippage from OKX: live order book, 17 min ago; tradeXYZ: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy OKX live order book, 17 min ago	10.43 bp	31.4 bp −$31	1528.8 bp −$15.3K	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 4 min ago	3.24 bp	16.2 bp −$16	doesn't fit	doesn't fit	doesn't fit

NOW on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NOW-USDT-SWAPlong	0.0000%	8h	138.89	long leg	$496K	$231K	20x
QFEX NOW-USD	0.0000%	1h	139.00	+0.079%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	139.09	+0.144%	$253K	$347K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	139.03	+0.101%	$770K	$255K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	139.08	+0.137%	$996	$342K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	139.31	+0.302%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	139.04	+0.108%	$5K	$171	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.655%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	139.04	+0.108%	—	—	25x	as long as short
Aster NOWUSDT	+0.0047%	8h	139.55	+0.476%	$41K	$995	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	139.02	+0.094%	$316K	$639K	20x	as long as short
Binance NOWUSDT	+0.0171%	8h	139.16	+0.194%	$1.8M	$1.5M	20x	as long as short
Bybit NOWUSDT	+0.0174%	8h	139.10	+0.151%	$1.6M	$961K	25x	as long as short
tradeXYZ xyz:NOWshort	+0.0198%	1h	139.08	+0.137%	$2.1M	$228K	10x
BloFin NOW-USDT	+0.0198%	8h	139.10	+0.151%	$46K	$18K	20x	as long as short
GRVT NOW_USDT_Perp	+0.0260%	8h	139.02	+0.094%	$350	$143K	10x	as long as short